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If you’re shopping for a new car, it’s important to understand the different kinds of dealer incentives offered by automakers and auto dealers to ensure that you can get the best deal on your next new car. Find out more about the most common incentives below.
Drivers are often showered with extreme sounding incentives via advertising that makes it sound like new cars are practically free. It’s no wonder that it can be a little confusing to navigate exactly what these incentives mean. Luckily, we’re here to help. Take a look at the most common new car incentives and offers provided by dealerships below:
Customer Cash: This kind of incentive is essentially a cash rebate offered by the manufacturer to incentivize purchasing a new car. Usually this rebate is simply applied to the cost of the car, reducing the amount of financing necessary. Sometimes you can opt to take the cash home yourself, though you would also technically pay interest on that cash if you’re using financing for your car purchase.
Low APR Financing: Many dealers offer special low interest rate financing at one point or another. Rates can range from 0 percent annually to about 5 percent annually. More than that and it’s not much of an incentive, but if you can take advantage of an interest rate closer to 0 then you can save a lot of money in the long run.
Special Lease Incentives: If you’re considering a lease, there are often special lease programs, that require little or no money down, and offer a low monthly payment. Of course, with a lease, you don’t get to keep the car at the end of the lease term, and you’re usually limited to a certain number of miles per year.
One way that you can get the lowest rate on your next auto loan is to apply for financing right now at Green Light Auto. You can find out your financing rate even before you go into the dealership. That way, you can secure financing, and take advantage of any options like customer cash, offered by the dealer, in order to get the best deal on your next car.
Contact Green Light Auto Credit online now or give us a call at (800) 200-5551 with any questions about finding the best financing rate for your next car purchase today! Our financial specialists are committed to helping you determine the right car dealer incentives to save you top dollar on your next purchase.